Goodwill and Intangible Assets

The following sets forth the goodwill and intangible assets by major asset class:



		September 30, 2018							December 31, 2017
	Useful Life (Yrs)	Gross		Accumulated Amortization			Net Book Value		Gross		Accumulated Amortization			Net Book Value
Indefinite lived:
Goodwill(a)		$	10,513,371	$	—		$	10,513,371	$	10,513,371	$	—		$	10,513,371
Definite lived:
Patents	8 – 17	5,802,528		(5,726,978		)	75,550		5,802,528		(5,681,673		)	120,855
Licenses	8 – 17	1,323,761		(1,212,170		)	111,591		1,323,761		(1,190,609		)	133,152
CELLECTRA^®(b)	5 – 11	8,106,270		(7,572,419		)	533,851		8,106,270		(7,252,108		)	854,162
GHRH(b)	11	335,314		(295,709		)	39,605		335,314		(271,948		)	63,366
Bioject(c)	2 – 15	5,100,000		(1,808,889		)	3,291,111		5,100,000		(1,405,556		)	3,694,444
Other(d)	18	4,050,000		(3,075,000		)	975,000		4,050,000		(2,906,250		)	1,143,750
Total intangible assets		24,717,873		(19,691,165		)	5,026,708		24,717,873		(18,708,144		)	6,009,729
Total goodwill and intangible assets		$	35,231,244	$	(19,691,165	)	$	15,540,079	$	35,231,244	$	(18,708,144	)	$	16,523,100


(a)	Goodwill was recorded from the Inovio AS acquisition in January 2005, the acquisition of VGX in June 2009 and the acquisition of Bioject in April 2016 for $3.9 million, $6.2 million and $400,000, respectively.


(b)	CELLECTRA^® and GHRH are developed technologies which were recorded from the acquisition of VGX.


(c)	Bioject intangible assets represent the estimated fair value of developed technology and intellectual property which were recorded from the Bioject asset acquisition.


(d)	Other intangible assets represent the estimated fair value of acquired intellectual property from the Inovio AS acquisition.

Aggregate amortization expense on intangible assets for the three and nine months ended September 30, 2018 was $267,000 and $983,000, respectively. Aggregate amortization expense on intangible assets for the three and nine months ended September 30, 2017 was $404,000 and $1.2 million, respectively. Estimated aggregate amortization expense is $267,000 for the remainder of fiscal year 2018, $1.1 million for 2019, $547,000 for 2020, $520,000 for 2021, $493,000 for 2022 and $2.1 million for 2023 and subsequent years combined.